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7.This Agreement shall be governed by and construed in accordance with the laws of the <br />1 <br />State of Minnesota. Any legal proceeding pertaining to this Agreement, or the rights or <br />2 <br />obligations of the parties hereunder, shall be venued in courts or tribunals located in <br />3 <br />Ramsey County, Minnesota. <br />4 <br />8.No interest shall accrue to the benefit of, or be payable to, the Developer on the Financial <br />5 <br />Security or any other monetary amount deposited with the City. <br />6 <br />9.Third parties shall have no recourse against the City under this Agreement. <br />7 <br />8 <br />Page 9of 11 <br /> <br />